Olo Inc. - OLO STOCK NEWS

Olo Inc. reported a 52% increase in full-year revenue to $149.4 million for 2021, driven by strong growth in active locations and module adoption. The fourth-quarter revenue reached $40.0 million, up 31% year-over-year. Notably, gross profit for the quarter was $31.5 million, representing 79% of total revenue. Despite a $6.8 million operating loss, Olo ended 2021 with $514.4 million in cash. The company also announced plans to acquire Omnivore Technologies to enhance its platform capabilities.

Olo Inc. (NYSE: OLO), a prominent on-demand commerce platform for the restaurant industry, will release its fourth quarter and fiscal year 2021 financial results on February 23, 2022, after U.S. market close. A conference call is scheduled for the same day at 5:00 p.m. ET to discuss financial results and guidance. Olo supports over 500 restaurant brands and processes millions of orders daily, enhancing the digital sales landscape while integrating with over 100 technology partners.

Olo Inc. (NYSE: OLO) has announced the promotion of Nithya B. Das to Chief Operating Officer and Chief Legal Officer, effective immediately. Ms. Das, a seasoned executive with over 15 years of experience, previously served as Chief Legal Officer. She will oversee additional corporate and technology functions. Meanwhile, Matthew Tucker, the current President and COO, will retire on March 31, 2022, after contributing to the company’s growth and transition to a public entity. He will remain as an advisor through 2022.

Olo Inc. (NYSE:OLO) has announced that its Founder and CEO, Noah Glass, along with CFO, Peter Benevides, will present at two upcoming investor conferences. The first is the ICR Conference on January 10, 2022, at 1:00 p.m. ET, followed by the Needham Virtual Growth Conference on January 11, 2022, at 4:15 p.m. ET. Both presentations will be webcast live, with replays available on Olo's investor relations website. Olo is a leading on-demand commerce platform focused on transforming the restaurant industry digitally.

Lyft has partnered with Olo to enter the restaurant delivery market, utilizing Olo's Dispatch network.

This collaboration allows restaurants to manage delivery orders through their platforms with Lyft as a third-party delivery provider. Olo’s Dispatch technology optimally selects delivery partners to ensure efficiency and cost-effectiveness. The partnership aims to enhance direct guest relationships for restaurant brands and support local delivery without Lyft creating a consumer marketplace. The initiative is expected to expand delivery coverage and improve pricing for both brands and diners.

Olo Inc. (NYSE:OLO), a prominent on-demand commerce platform for the restaurant industry, announced its participation in the RBC Capital Markets Global Technology, Internet, Media and Telecom Virtual Conference. Founder and CEO Noah Glass, along with CFO Peter Benevides, will present on November 16, 2021, at 2:40 p.m. Eastern Time. The presentation will be available for replay on Olo's investor relations website. Olo serves over 500 restaurant brands, providing a digital commerce ecosystem that integrates with more than 100 technology partners.

Olo Inc. reported a 36% year-over-year revenue increase, reaching $37.4 million for Q3 2021. The acquisition of Wisely enhances customer engagement. Active locations rose 26% to approximately 76,000, while average revenue per unit climbed 8% to $484. However, the company faced an operating loss of $(11.3) million and a net loss of $(11.3) million or $(0.08 per share. Olo's fourth quarter revenue guidance is $38.8 million to $39.3 million with a non-GAAP operating income of $2.8 million to $3.2 million.

Olo Inc. (NYSE:OLO) announced the completion of its acquisition of Wisely Inc. on November 4, 2021. The deal, valued at approximately $187 million, included $77 million in cash and 3.69 million shares of Olo's Class A common stock. This strategic acquisition aims to enhance Olo's service offerings by integrating Wisely's customer intelligence platform, which focuses on personalizing guest experiences and maximizing customer lifetime value. The acquisition is expected to bolster Olo's digital transformation efforts in the restaurant industry.

Olo (NYSE:OLO) has integrated Uber Direct into its delivery solution, Dispatch, enhancing delivery capabilities for restaurants. This collaboration follows Uber's previous integrations with Olo and aims to expand into the growing alcohol delivery market. The integration enables restaurants to optimize delivery options based on pricing, timing, and service quality.

Uber's extensive courier network will support Olo's restaurant partners, promoting increased operational efficiency in response to rising demand for off-premise dining.